KOSPI sinks as U.S. tech selloff and Samsung strike fears dampen sentiment SEOUL, May 18 (AJP) - South Korean stocks opened sharply lower on Monday, with the benchmark KOSPI falling below 7,300, after weeks of an unprecedented rally. The drop, the lowest since May 4, came as investors reacted to a global technology selloff and rising U.S. bond yields, while uncertainty over Samsung Electronics' ongoing labor dispute added further pressure. The index opened down 0.67 percent at 7,443.29 points before extending losses and falling as low as 7,142.71 in early trade, a drop steep enough to trigger a sell-side sidecar at 9:19 a.m. amid a simultaneous plunge in KOSPI 200 futures. The selloff came after the yield on the benchmark 10-year U.S. Treasury note climbed to as high as 4.60 percent on Friday, its highest level in roughly 15 months, fueling concerns that persistent inflation could keep interest rates elevated for longer than markets had expected. The junior KOSDAQ also slipped 4.29 percent to 1,081.30, while the South Korean won weakened slightly to 1,504.20 per dollar from 1,500.80 in the previous session. The decline also followed sharp losses on Wall Street late last week, where the Nasdaq fell 1.54 percent and semiconductor shares slid sharply as rising Treasury yields pressured technology stocks. Oil prices also rose sharply amid concerns over prolonged disruptions around the Strait of Hormuz, adding to worries that inflation could remain stubbornly high. Brent crude futures settled up 3.4 percent at US$109.26 a barrel, while U.S. West Texas Intermediate crude climbed 4.2 percent to $105.42. U.S. President Donald Trump's summit with Chinese President Xi Jinping also did little to calm markets, as the two leaders ended talks without concrete progress on broader geopolitical tensions involving Iran and Gulf countries including the Strait of Hormuz. The global semiconductor selloff spilled directly into Seoul, where Samsung Electronics traded at 270,000 won, down 0.18 percent, while SK hynix fell 3.13 percent to 1,762,000 won as investors pulled back from AI-linked chip stocks. Samsung Electronics has been facing growing labor tensions after its union threatened a strike later this week following a breakdown in wage negotiations. The union has been demanding higher incentives and the removal of caps on performance bonuses in proportion to the company's strong operating profits in its chip division amid an artificial intelligence (AI)-driven semiconductor supercycle. Investors worry that the electronics giant's prolonged dispute could raise labor costs or disrupt semiconductor production at a time when global AI demand remains heavily concentrated in advanced memory chips. The impending strike has added to uncertainty on the South Korean bourse, as semiconductors make up a large share of the country's exports and Samsung dominates it by market capitalization, leaving the sector especially sensitive to both global demand shocks and domestic labor risks. Losses spread broadly beyond semiconductors. Among major technology and industrial shares, Samsung SDI fell 4.95 percent to 960,000 won, LG Energy Solution dropped 5.52 percent to 394,000 won and Doosan Enerbility slid 5.96 percent to 104,200 won. Automakers also came under pressure, with Hyundai Motor falling 7.43 percent to 648,000 won and Kia declining 4.94 percent to 159,700 won. Defense and shipbuilding-related shares weakened as well, with HD Hyundai Heavy Industries dropping 7.34 percent to 593,000 won and Hanwha Aerospace slipping 1.15 percent to 1,202,000 won. Financial and biotech shares also moved lower, as KB Financial fell 3.08 percent to 150,800 won, Samsung Biologics declined 3.88 percent to 1,364,000 won and Samsung C&T dropped 5.04 percent to 376,500 won. Losses were equally broad on the KOSDAQ, where secondary-battery, biotech and robotics shares all traded sharply lower. Among battery-related stocks, EcoPro BM fell 2.57 percent to 185,600 won, while EcoPro dropped 5.26 percent to 122,400 won. Robotics firm Rainbow Robotics plunged 9.26 percent to 735,000 won, and aerospace company Korea Aerospace Industries slipped 3.76 percent to 107,400 won. Biotech shares also weakened, with Alteogen falling 5.42 percent to 349,000 won, Samchundang Pharm declining 7.47 percent to 359,000 won, HLB dropping 5.30 percent to 49,150 won and ABL Bio sliding 8.55 percent to 109,100 won. Jusung Engineering stood out as the only major gainer, surging 21.04 percent to 169,700 won. Despite the broad selloff, investors appear to remain on watch for upcoming catalysts that could shape the direction of AI-related semiconductor stocks. Nvidia is scheduled to report earnings results later this week, with markets closely watching whether the chipmaker can beat revenue forecasts of $78 billion and achieve a gross margin of 75 percent. Also in focus will be management's comments on demand from China, after Washington recently approved the sale of H200 chips to the country. Investors also remain attentive to developments in Nvidia's next-generation Blackwell chips and the timeline for its Rubin architecture, given the implications for South Korean suppliers such as Samsung Electronics and SK hynix. Elsewhere in Asia, markets moved lower as investors reacted to rising global bond yields and persistent inflation concerns. Japan's Nikkei 225 fell 1.40 percent to 60,547.46, pressured by profit-taking in semiconductor shares, Hong Kong's Hang Seng Index dropped 1.06 percent to 25,687.49 and China's Shanghai Composite Index also edged down 0.19 percent to 4,127.62. 2026-05-18 10:58:30

North Korean leader orders 'strengthening of front-line units along border with South Korea' SEOUL, May 18 (AJP) - North Korean leader Kim Jong-un has ordered the strengthening of front-line units along the border with South Korea and called for turning the area into an "impregnable fortress," state media reported on Monday. According to the state-run Korean Central News Agency (KCNA), Kim convened a meeting with military and defense officials the previous day to outline plans for "remodeling the military organizational structure and strengthening the first-line units and other major units in military and technical aspects," describing it as an important decision to "more thoroughly deter war." He urged, "The training for perfecting combat readiness is the main task of the army," reiterating the importance of "readjusting the training system and intensifying the practical training in keeping with the changing aspects of modern warfare." He also said the country's army "should continue to carry forward its tradition of overwhelming the enemy with ideology and faith by steadily waging the ideological revolution with firm belief in its cause," which would enable it to "reliably maintain its honor and position as the strongest army in the world." Sunday's gathering came just a few weeks after Kim visited a munitions factory and ordered new self-propelled howitzers to be deployed along border with South Korea "within this year." The new 155-mm self-propelled howitzer has sufficient range to strike targets in South Korea, posing a direct threat to Seoul. 2026-05-18 10:11:49

Lee discusses outcomes of recent US-China summit with Trump in phone call SEOUL, May 18 (AJP) - South Korean President Lee Jae-myung spoke by phone with U.S. President Donald Trump, Cheong Wa Dae said on Monday. In a written press briefing, presidential spokesperson Kang Yu-jung said the phone call, which was arranged at Seoul's request to hear about the outcomes of last week's summit in Beijing between Trump and Chinese President Xi Jinping, lasted about 30 minutes. Trump said he and Xi held meaningful discussions on issues related to peace on the Korean Peninsula and reaffirmed their commitment to efforts toward North Korea's denuclearization, according to Kang. "confirmed their shared goal to denuclearize North Korea," the White House also said in a fact sheet released later. Lee praised Trump's visit, saying that a constructive relationship between the world's two major powers would help promote peace and prosperity in the Indo-Pacific region and around the world. Sunday's call came shortly after Trump returned from Beijing, where the two leaders discussed a wide range of issues, but North Korea was largely sidelined as the talks focused more on tariffs, economic issues, and global supply chains disrupted by the prolonged conflict in the Middle East. Meanwhile, Lee and Trump agreed to work toward faithfully implementing a broader bilateral security and trade agreement reached last fall. The two leaders also expressed hope of meeting again at the upcoming Group of Seven (G7) summit scheduled to take place next month in Évian-les-Bains in eastern France. 2026-05-18 09:28:14

K-Bank's Small Business Loans Exceed 3 Trillion Won, Focus on Guarantees and Collateral K-Bank is rapidly expanding its corporate finance sector, primarily through small business loans. By increasing the proportion of loans based on guarantees and collateral, the bank has enhanced its stability while significantly reducing its delinquency rate, achieving growth alongside improved financial health. As of May, K-Bank announced that its small business loan balance has surpassed 3 trillion won. This marks a 1 trillion won increase within just six months after exceeding 2 trillion won in November of last year. The balance of guarantee loans has surged 76% this year, rising from 330 billion won at the end of last year to 580 billion won currently. The bank's fully online real estate collateral loan product, the CEO Real Estate Loan, has also seen a 40% increase, growing from 560 billion won at the end of last year to 780 billion won now. According to data from the Korea Federation of Banks, K-Bank's average interest rate for small business collateral loans was 3.44% as of the end of the first quarter, the lowest in the banking sector. This competitive rate allows small business owners to refinance loans from other financial institutions, including mutual finance, savings banks, credit cards, and capital companies, thereby alleviating their interest burdens. K-Bank continues to provide credit to small business owners with lower credit ratings. By enhancing its credit assessment model and utilizing various alternative data sources, including telecommunications, platforms, and card merchant information, the bank has improved access to finance. As of the end of the first quarter, the proportion of small business credit loans for mid-to-low credit borrowers reached 34%. The strategy of expanding corporate loans focused on small businesses has proven effective, with the bank's net profit for the first quarter rising 106.9% year-on-year to 33.2 billion won. The total number of customers also increased by 540,000 compared to the end of last year, reaching 16.07 million. The quality of the loan portfolio has also shown significant improvement. The proportion of guarantees and collateral within small business loans increased from 26% in the first quarter of 2025 to 43% in the first quarter of this year, establishing a stable portfolio. The delinquency rate improved dramatically from 1.38% to 0.55% during the same period, marking the lowest level among internet banks. K-Bank plans to launch dedicated credit loan products linked to major platforms and expand its offerings in real estate collateral loans and facility financing products to continue enhancing its competitiveness in corporate finance.* This article has been translated by AI. 2026-05-18 09:21:47

North America World Cup Faces Extreme Heat Risks, More Dangerous Than 1994 The 2026 FIFA World Cup, set to take place from June 11 to July 19 across 16 cities in the United States, Canada, and Mexico, is under a heat advisory. Climate scientists warn that nearly a quarter of the matches could be played in extreme heat stress conditions. On May 15, the World Weather Attribution (WWA), a multinational climate research group, emphasized in a public letter and analysis that due to global warming, players and fans at the 2026 World Cup will face significantly harsher heat and humidity risks compared to the 1994 tournament in the United States. The WWA utilized the Wet Bulb Globe Temperature (WBGT) index, which considers temperature, humidity, solar radiation, and wind, to assess the risk of heat. Their analysis predicts that 26 of the 104 matches will be played under conditions exceeding a WBGT of 26 degrees Celsius. According to guidelines from the International Federation of Professional Footballers (FIFPRO), a WBGT of 26 degrees mandates a "cooling break" for player safety. If the WBGT exceeds 28 degrees, it is deemed too dangerous to continue the match, and postponement or cancellation is recommended. The WWA anticipates that five matches during this World Cup will occur in conditions where FIFPRO would advise postponement due to WBGT levels above 28 degrees. This represents a significant increase in risk compared to the 1994 World Cup, where only 21 matches faced similar heat risks. The WWA noted that the likelihood of extreme heat conditions has nearly doubled since then. Infrastructure at the venues poses additional concerns. Of the 26 matches expected to exceed the heat threshold, 17 will be held in indoor stadiums equipped with air conditioning, located in cities like Dallas, Houston, and Atlanta. However, venues in Miami, Kansas City, Philadelphia, and New Jersey are outdoor facilities, leaving them exposed to hot and humid conditions. The safety of soccer fans is also at risk. Climate scientist Friederike Otto from Imperial College London warned, "While players are at risk, spectators gathering outside are in even greater danger. They may not have immediate access to medical assistance like the players do, making them more vulnerable to extreme heat." The final match, scheduled for July 19 at MetLife Stadium in New Jersey, is also at risk of extreme heat. The WWA forecasts a 12.5% chance that the match environment will exceed a WBGT of 26 degrees and a 2.7% chance of exceeding 28 degrees on that day. In response to growing concerns about heat, FIFA has initiated measures to address the issue. The organization has implemented a real-time weather data monitoring system that integrates WBGT and heat index readings. FIFA is prepared to activate emergency response protocols, including cooling breaks and match delays or postponements, in the event of extreme weather conditions.* This article has been translated by AI. 2026-05-18 09:18:26

Missing Woman Found Dead After Hiking in Bukhansan National Park A woman in her 50s who went missing after hiking in Bukhansan National Park was found dead 28 days after her family reported her disappearance. According to the Songpa Police Station in Seoul, the woman, identified as A, was reported missing by her family on April 17 at around 11:28 a.m. A's husband contacted her workplace around 9 a.m. that day after learning she had not shown up for work. He began searching for her and subsequently filed a missing person report with the police. Following the report, police analyzed CCTV footage and confirmed that A had traveled by bicycle to the vicinity of Gangbyeon Station in Gwangjin-gu, where she transferred to Line 2 of the subway heading toward Bukhansan in Gangbuk-gu. CCTV from Bukhansan National Park captured A ascending the mountain, but this was the last sighting of her. On May 15, a woman's body was discovered at the base of Nojeokbong Peak (716 meters above sea level) in Goyang, Gyeonggi Province. Authorities confirmed the identity of the deceased as A, who had been reported missing. The trail A took is known to be a shortcut that typically takes less than two hours to reach the summit. Police have reported no signs of foul play in A's death and are currently awaiting the results of an autopsy from the National Forensic Service to determine the exact cause of death.* This article has been translated by AI. 2026-05-18 09:16:59

Eric Du, Vice President of Huawei Korea, to Depart for Malaysia Eric Du, Vice President of Huawei Korea, will conclude his term in South Korea and relocate to Malaysia. His successor has not yet been announced. According to Huawei Korea, Du's tenure in South Korea will end soon. While Huawei typically operates on a three-year term, Du has served for four years. He expressed his gratitude, stating, "As I wrap up my time in Korea, I wanted to personally extend my thanks. This has been a special time, not just a job, where I learned the true power of technology, industry, and people." Du particularly praised the role of the South Korean media. He noted, "In a rapidly changing market, the Korean media has asked profound questions, viewing companies with both sharpness and warmth. Despite numerous global issues surrounding Huawei, Korean journalists have consistently worked to understand the realities of technology and industry rather than relying on simple frames or biases." He highlighted Huawei's focus areas in the South Korean market, including AI, cloud computing, digital transformation, green energy, and ICT talent development. Du stated, "I am deeply grateful for the serious consideration of how Huawei can collaborate with Korean society and for the attention given to this dialogue." Huawei Korea has been actively engaged in the domestic market, focusing on telecommunications equipment, cloud services, enterprise ICT solutions, green energy, and digital talent development. Despite ongoing concerns regarding Chinese ICT companies amid U.S.-China tech tensions and global supply chain shifts, Huawei has continued to seek connections within the local industry. Du emphasized, "Technology ultimately exists for people and society, a fundamental principle that I have come to reflect on. Technology is, at its core, a history of connection, and the media plays a crucial role in ensuring that these connections meet society appropriately." He concluded, "Although I am leaving Korea, my respect and affection for the Korean market and media will remain with me for a long time. I will cherish the connections with Korea, no matter where I am." Following Du's departure, Huawei Korea is expected to maintain its external communications and domestic business collaboration until a successor is appointed. 2026-05-18 09:15:46

Kang Dong-won, Um Tae-goo, and Park Ji-hyun Star in 'Wild Thing' with K-Pop and Comedy Elements The film 'Wild Thing' has unveiled key viewing points ahead of its release. Set to premiere on June 3, 'Wild Thing' is a comedy that follows a once-popular mixed-gender dance group, 'Triangle,' which disbanded overnight due to an unexpected incident. The story revolves around their reckless challenge to seize a chance at revival after 20 years. One of the most striking aspects is the cast's combination. Kang Dong-won plays Hyun-woo, the leader of 'Triangle,' showcasing both comedic acting and performance skills. Um Tae-goo portrays Sang-goo, a rapper with an introverted personality and intense passion, hinting at a transformation between rap and comedy. Park Ji-hyun takes on the role of the team's center, Domi, bringing refreshing energy and unexpected charm. Joining them is Oh Jung-se as Seong-gon, a ballad singer who has remained at number two for 39 weeks, adding humor with his unique presence. The performances of actors like Shin Ha-kyun are also expected to enhance the film's entertainment value. Expectations are high for this comedy film. 'Wild Thing' is a collaboration between the production team behind 'Extreme Job' and director Son Jae-gon. The premise of a disbanded group attempting to return to the stage after 20 years sets the stage for unpredictable situations and character mismatches that generate laughter. The comedic chemistry among the cast and the energy of K-pop performances aim to deliver an enjoyable cinematic experience. Music and performance are also key highlights. Composer Shim Eun-ji, known for working with groups like TWICE, SHINee, and IU, along with a JYP producer and choreography team, have contributed to the on-screen performances of 'Triangle.' The film features their debut and signature song, 'Love is,' along with tracks like 'Shout it Out' and 'I Like You,' reviving the essence of late 1990s to early 2000s dance music with a contemporary twist. The actors underwent extensive rehearsal for their performances. During the production press conference, Um Tae-goo mentioned commuting to the JYP headquarters for rap practice, stating, "I tried to practice as often as possible and practiced for about five months whenever I could." Kang Dong-won added, "While preparing for this project, I realized how hard it must be for idols, and I gained a lot of respect for them." The actors' preparation process, akin to an 'idol experience,' heightens anticipation for the performances in the film. The film also creatively connects its narrative with the audience. 'Wild Thing' utilizes the fictional group 'Triangle' as if they were real idols, engaging viewers through character accounts, music videos, cheering methods, and music releases. This expansion of the film's setting into content outside the theater adds to the enjoyment of the fictional group 'Triangle' even before its release. The styling and stage design evoke a Y2K aesthetic, blending visuals reminiscent of the late-century music scene with exaggerated situations typical of the comedy genre, completing the unique entertainment of 'Wild Thing.' With themes of revival, stage performance, music, and humor, there is keen interest in how this film will be received in theaters this June. 'Wild Thing' will be released nationwide on June 3.* This article has been translated by AI. 2026-05-18 09:13:11

NH Bank Launches Non-Face-to-Face MMT Subscription Service NH Bank is accelerating the expansion of its non-face-to-face services in response to changes in the digital financial environment.On May 18, NH Bank announced the launch of its non-face-to-face subscription service for specific money trusts (MMT), becoming the first bank to do so.MMT products aim to generate returns by investing in short-term financial instruments, such as issued notes. They are characterized by high liquidity, allowing for frequent deposits and withdrawals. Demand for these products has increased recently due to heightened interest rate volatility amid conflicts in the Middle East.With this new service, individual customers can receive product information and complete the subscription process through NH Bank's smart banking and other non-face-to-face channels, all conducted via video call without the need to visit a branch.An NH Bank representative stated, "This service was designed to enhance financial accessibility for customers who find it difficult to visit branches and to create a more convenient product subscription environment. We will continue to expand our digital services in the future."* This article has been translated by AI. 2026-05-18 09:07:22

LG Uplus Surpasses 2 Million USIM Updates and Replacements LG Uplus has reported that the cumulative number of updates and free replacements for subscriber identification numbers (IMSI) has surpassed 2 million. This figure represents approximately 12% of all subscribers, indicating that a majority still need to complete the replacement process, prompting the company to enhance its outreach efforts. As of May 17, LG Uplus processed a total of 2,014,527 updates and replacements, including 750,461 updates and 1,264,066 replacements since May 13. The cumulative processing rate stands at 11.8%. The IMSI, or International Mobile Subscriber Identity, is a unique number stored on the USIM chip that distinguishes subscribers within the telecommunications network. The transition involves changing the existing number structure to enhance security and improve the subscriber identification system. To inform all customers about the IMSI transition and the USIM updates and replacements, LG Uplus is providing additional notifications through May billing statements. Customers can find this information on paper bills, email statements, and electronic bills within the U+one app. For those who have not completed the update, a banner will appear in the U+one app to encourage online updates, and the FAQ section on the official website and app has also been expanded. The company has also broadened its channels. Starting May 15, U+ budget mobile customers can update or replace their USIMs for free at LG Uplus's direct stores and authorized dealers nationwide. Plans for additional outreach to digitally vulnerable groups are also under consideration. Lee Jae-won, Vice President of LG Uplus's Customer Division, stated, "The USIM updates and replacements are measures to enhance customer protection. We will continue to strengthen our guidance to ensure customers can easily recognize and participate in the process." 2026-05-18 09:06:00